Buckaroo

Exclusive: Foreign banks may get help By MIKE ALLEN | 9/21/08 7:24 AM EDT In a change from the original proposal sent to Capitol Hill, foreign-based banks with big U.S. operations could qualify for the Treasury Department’s mortgage bailout, according to the fine print of an administration statement Saturday night. Treasury Secretary Henry Paulson confirmed the change on ABC's "This Week," telling George Stephanopoulos that coverage of foreign-based banks is "a distinction without a difference to the American people." "If a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution," Paulson said. "That's a distinction without a difference to the American people. The key here is protecting the system. ... We have a global financial system, and we are talking very aggressively with other countries around the world and encouraging them to do similar things, and I believe a number of them will. But, remember, this is about protecting the American people and protecting the taxpayers. ... The legislative outline that went to Capitol Hill at 1:30 a.m. Saturday had said that an eligible financial institution had to have “its headquarters in the United States.” That would exclude foreign-based institutions with big U.S. operations, such as Barclays, Credit Suisse, Deutsche Bank, HSBC, Royal Bank of Scotland and UBS. But a Treasury “Fact Sheet” released at 7:15 Saturday night sought to give the administration more flexibility, with an expanded definition that could include all of those banks: “Participating financial institutions must have significant operations in the U.S., unless the Secretary makes a determination, in consultation with the Chairman of the Federal Reserve, that broader eligibility is necessary to effectively stabilize financial markets.” LINKY ROTFLMFAO!!!! "protecting the American people and protecting the taxpayers" these guys have super tanker loads of lies and deceit. Here's my guess. They cooked up this mortgage scam to bilk new homeowners and taxpayers. It's gone a little overboard and starting to affect the entire market. The Fed has stepped in to bail out failing banks. Note here that the "Federal Reserve" is neither federal nor a reserve. It's made up of about 10 private banks 7 of which are offshore. So they have to make this bailout applicable to the offshore segment because they are having to try and save the market due to the unexpected blowup of this manufactured crisis.

""Treasury Seeks Asset-Buying Power Unchecked by Courts (Update2) By Alison Fitzgerald and John Brinsley Sept. 21 (Bloomberg) -- The Bush administration sought unchecked power from Congress to buy $700 billion in bad mortgage investments from financial companies in what would be an unprecedented government intrusion into the markets. Through his plan, Treasury Secretary Henry Paulson aims to avert a credit freeze that would bring the financial system and the world's largest economy to a standstill. The bill would prevent courts from reviewing actions taken under its authority. ``He's asking for a huge amount of power,'' said Nouriel Roubini, an economist at New York University. ``He's saying, `Trust me, I'm going to do it right if you give me absolute control.' This is not a monarchy.'' As congressional aides and officials scrutinized the proposal, the Treasury late yesterday clarified the types of assets it would purchase. Paulson would have authority to buy home loans, mortgage-backed securities, commercial mortgage- related assets and, after consultation with the Federal Reserve chairman, ``other assets, as deemed necessary to effectively stabilize financial markets,'' the Treasury said in a statement. The Treasury would also have discretion, after discussions with the Fed, to make non-U.S. financial institutions eligible under the program. The plan would raise the ceiling on the national debt and spend as much as the combined annual budgets of the Departments of Defense, Education and Health and Human Services. Paulson is asking for the power to hire asset managers and award contracts to private companies."" LINK In other words they want the power to dole out corporate welfare, even to foreign banks, after all 7 of the 10 private banks that own the "fed" are foreign. And they want this power with no court oversite. LOL JayB, you're tax dollars are going to bail out foreign banks. "award contracts to private companies" where have we heard that before LOL?, no bid probably to boot.

BWAHA HA HA HA HA HA!!!!!!!! "The foxes today recommended the most significant regulatory overhaul in the hen house industry since they totally raped and pillaged the place just one bush generation ago"" The bush crime family can "fix" any savings and loan or mortgage industry scandals, after all they created them in the first place.

""The only unknown is how many billions of dollars in welfare payments that the government will shell out to homeowners in an effort to put an artificial floor under prices. "" Do you think it will be less or more than the $700 BIL corporate welfare being proposed to "bail out" the lenders that intentionally created this mess in the first place? And who pays the welfare for either the corps or the people? Just the worker or do the golden parachute boys kick in anything from their offshore tax havens? ""The decline in home prices will probably bring at least as many people into the market for homes as foreclosures eject from them, so I don't expect net home-ownership percentages to drop substantially over the long term. "" So is this just a POTA figure or you got some kind of study/survey to back this up? ""As an aside, there's no convincing data to support the notion anything inherently negative about renting, especially when you can do so for considerably less than it would cost to cover the mortgage, taxes, insurance, and upkeep on the same property."" Good luck saving enough to equal the value of a home you own outright after 20 or 30 years. What do you do invest those savings in the stock market? LOL! ""As far as the folks being foreclosed on are concerned, I don't think that many of them will be able to shoehorn their way into a 105% LTV neg-AM, I/O, pay-option-ARM for a property that's 8X their gross-income ever again in their lifetimes, which is a net positive for all concerned."" So in a round about way you're admitting it was a large negative to allow these types of loans. Now why don't you go on to admit who's responsible, who profited? Of course it's the crooks you elected into office. "" After home-prices mean-revert to the point where their rental yield covers the cost of owning them, they'll probably be able to qualify for a loan at 2-3X their gross income if they can muster the discipline necessary to save the 20% downpayment that any sane lender should require of them before approving the loan."" once again admitting these people were not sane IF they were trying to do the right thing. But they weren't, they were just new world record crooks. They're the experts, they knew the loans would fail when the ARM's went up, it worked just like it was planned. It doesn't bother you all the fees collected (stolen)? How much is the average mortgage in fees now, about $5G's? Pretty good scam. Collect the fees, transfer the loan, the first several years of payments are on the interest only, so no equity, even if there was some it would be lost on foreclosure. So fees, plus interest payments, then when foreclosed you get the home back to sell again. You might lose a bit on falling values, but then you get the "bail-out" on the taxpayers dime. It's a win win (GIGANTIC RIPOFF) for the suits no matter how you look at it. So JayB, concerning the $700 Billion. What amount of that is your personal share to pay back? Is it true that 100% of your federal withholding goes just to pay the interest on the national debt? In other words your federal income tax doesn't buy you anything, it's merely a transfer of wealth from the worker to the rich.

PALIN TO DUMP McCAIN FROM GOP TICKET VINCENNES, Indiana - (PTSD News) - Vice Presidential candidate Sarah Palin announced today that she has asked top GOP officials to fire John McCain as the GOP presidential candidate. "He has served his country well," Palin told a cheering overflow crowd in this southwestern Indiana city, "but he is starting to drag down my numbers, so he'll have to go. To make sure he's gone," she said, "I'll offer one hundred and fifty dollars to the first person to shoot him and bring me his cut off right hand -- just kidding. I don't need to see the hand, a faxed picture will do." "If there is anyone who can get officials to fire someone she doesn't like, it's Sarah," said an unnamed Republican spokesperson. "This will be a good move for the GOP," said Charles L. Sonderheim of the Heritage Foundation, "Palin has been packing them in, while McCain can't fill a McDonalds." Rules state that if the front runner is removed before the election, the vice presidential nominee become the presidential candidate. "We all know that God has anointed her to be president," said Reverend Ed Kalnin, Palin's former preacher, "so why delay the process, just like we shouldn't delay Armageddon." "It'll be great opportunity to be your President," Palin told the Indiana crowd, "because while it has been fun to see Russia from my house, I just can't wait to see Russia from the cockpit of a plane as something nuclear is being dropped." There has been no word on who would be tapped as Palin's vice presidential running mate. "We need to emphasize Sarah's qualifications to be president by picking someone who is a little less qualified than her, but charming, of course," said a top GOP spokesperson, "However this may take some time, although we have a lead on a pig with lipstick in Waterloo, Iowa that is dying to get off the farm." 20 September 2008 Satire by R J Shulman Visit him on MySpace

the first 2 pitches are exposed and probably death fall if unroped The final uppper slab scramble is not exposed and it's only about 10' tall, it has a big flat ledge below it, the worst that could happen would be a twisted ankle. The approach/descent gully has a lot of loose rock but it's not that steep. the most dangerous part of the trip is the 2 lane road all the way from the interstate.

The $85 Billion bailout of AIG just cost every individual American another $900 added to their share of the debt.

Cars may kill people but their not built primarily to kill people. Guns (these kinds anyway) are built only to kill people. So if you're going to post pics of Israeli women with guns you might as well post pics of the consequences. But I wonder percentage wise how many Israeli women have killed someone. Vaguely remember a study they did during WW2, only one percent of soldiers were natural born killers, the other 99% avoided or were devastated if they ever have to kill someone. May account for all the post truamatic stress disorder, even with all the vid game training we aren't natural born killers.

Here's the stats The world uses over 1.2 TRILLION plastic bags a year that's over 1 million bags a minute on average we use a plastic bag for 12 minutes before it's disposal it can then last in the environment for centuries. VIDEO

there's no doubt the dems are crooked too. It's about 99% of repugs are crooked and 80% of dems. It's also the degree. Just look at the specific deregulation that allowed Enron and the mortgage industry. Maybe some dems went along with the vote but weren't the bills 100% repug? It's always the lesser of two evils, with the advent of the internet there's absolutely no excuse for not researching. Of course you could ignore the prepondrance and go with a one issue their NEVER going to change anyway like abortion or guns.

After only recently being made aware of the trash vortex I've been wondering what to do about it besides spewing on the internet. Today I was in Anacortes on an errand and had about 5 hours to kill. I went and picked up trash. First I started on the highway. In one mile I gathered a full garbage bag of trash. The highway wasn't that pleasant because of the cars. Then I went to the beach. In one mile on the beach I got another full bag and then some. The breakdown goes like this. 75% of the trash was plastic. Of that 75% about 1/3 was plastic grocery bags. A second third was 16oz water bottles. The other third was alum cans, flip flops, plastic chairs, milk jugs, foam cups, etc etc. By weight the highest percentage was probably the 16oz water bottles. Was using a ski pole to poke stuff but it doesn't work that well, think I'll get one of those grabber thingies. Gloves are nice also.

but he's not hurt Climbers told to check their gear after cam fails

WAY TO GO!!! truly an environmentally conscious climb

I'd rather have a toaster than have someone borrowing $600 in my name and then giving it to me telling me it's a rebate. In other words forcing me to take out a loan of which I'll only be allowed to pay the interest.

And what has the Democrat congress been doing these past two years? Uhhh.... Being filibustered to death by the repugnicunts in the Senate?

Yeah, I transfered my account from WAMU to BECU, it's a credit union, not a bank. the teller at WAMU wasn't too happy about it but oh well.

thought I saw a TR on this already? maybe it was summitpost?

Oh, you mean like Katherine Harris? Harris/Florida in 2000, and Ken Blackwell/Ohio Glenda Hood/Florida in 2004

""Touch screen voting is bullshit."" Yeah, that's what they've had in Florida in '00 and Florida and Ohio in'04. And the machines are built, sold and maintained by repug companies. So I guess if there's an R after their name it must be legit according to you? There's 2 kinds of vote fraud. Voter fraud and election fraud. Voter fraud is minuscule because it happens on an individual voter basis. Election fraud is when the people holding the election manipulate the totals. The repugs are doing that at the precinct and county level with closed source software computers that their companies built, distributed, and maintain. Much easier to move big numbers that way. Harris's books are very well documented and include common public and MSM sources. She's not partisan either, she video documented the Hillary machine stealing New Hampshire. http://www.blackboxvoting.org/ I'm confusing Bob Ney, convicted Ohio repug congressman with Ken Blackwell the Secretary of state of Ohio. While Blackwell has not been convicted of anything he should have been. Ohio is the 2nd biggest cesspool of election fraud behind Florida. Blackwell is the one that brought in Diebold touchscreen machines to Ohio, which you say are "bullshit", at the same time he was holding stock in the company. The CEO of Diebold at the time publically stated he was dedicated to delivering the state of Ohio for bush in 2004. Blackwell also set new Ohio records for voter purges in mostly Dem districts. He also was behind the infamous rejection of Dem voter registrations because they were printed on the wrong weight paper. Blackwell was co-chair of the Bush-Cheney Re-election Committee while also, as Ohio Secretary of State, running the dubious vote count that gave Bush a second White House term. You know the one where they closed the regional vote count offices to the national press on the night of the count due to "terrorist threat". Ohio is by the way the headquarters of the two largest vote machine companies in the US, both wholly repug owned. But I guess to people like you Fairweather, there's no conflict of interest because they have an R after their name.

SWEET, nice pics, especially the bear tracks and summit block so 2- 60m 1/2 ropes?

""1. record life expectancy"" The US ranks 45th in the world ""2. record low unemployment"" sure if you want to work at Walmart. ""3. unprecedented economic growth over the past 25 years"" benefiting only the super rich, the middle class has been in decline starting in the Raygun years. It's takes 2 workers per household when it used to take one, which erodes the family unit, the key to the middle class. ""4. record "happiness" levels, worldwide (announced last week)"" at least someone is optimistic ""5. booming economic growth and freedom in India and China (only 1/3 of the world's people)"" This is good, the oppressed should be brought up. The problem is the environment can't support a bigmac and SUV for these numbers. ""6. continual reductions in pollution for the past 50 years"" Are you sure about that? Amidst all the "news" there's real news that doesn't get reported. Like we are in the middle of a species "die-off" the first one caused by man. There is also a "trash vortex" in the north Pacific larger than the state of Texas. Some claim as large as the contiguous USA, and it's growing. There's a more-or-less permanent high pressure system in the north Pacific. Called the North Pacific Gyre, the water there is doldrums and it slowly circles clockwise. This causes floating trash to collect, 60 to 90 percent of which is plastic. Since plastic was first created 50 years ago it's been collecting in this "vortex". 20 percent of all plastic produced ends up in the water. Plastic breaks down even to the molecular polymer level but it doesn't biodegrade to it's basic elements. In many areas of this vortex plastic outweighs plankton 5 to 1, seriously threatening the food chain. Water birds eat so much un-digestible plastic, which fills their stomach, they end up dying of starvation. Est 1MIL deaths annually. Been to the beach lately?, pristine places like Hawaii are becoming garbage dumps when the edges of the vortex swirl onto land. In '02 I went to the mouth of the Columbia at the Pacific, the beaches there were similar to some of these pics. ""7. unprecedented freedom of movement, worldwide"" did you see the lockdown China put on the olympics, they have some economic freedom but no political May be anecdotal but I've been going to Canada since '93. This year I was stopped as I was exiting the USA going to Canada by US Office of Homeland Security officials. They acted very rude, like jack booted thugs. They didn't even have a building, just orange cones on the side of the road, SUV's and drug sniffing dogs. I'm pretty clean cut and my car and gear were all clean and organized, my climbing partner also. They pulled us over and put a dog inside the car. He found the food LOL. Searched as you're leaving the country by your own country. Isn't that like communism or something? Guess their looking for recreational drug users to fill up their world record rate of incarceration prison industry prisons. ""For the past 250 years, life has continually improved in almost every concievable way. Things just keep getting better, and they will continue to do so... anyone who doesn't recognize this is some kind of massive idiot."" It took 150MIL years during the carboniferous for the petroleum reserves to accumulate and develop. We've used up about 1/2 of that in 100 years. We're still deforesting at unsustainable rates, and conducting blind experiments of which we know not the consequences like bio-engineering. The earth can't sustain this rate of degradation. Aids is just the first sign that these population levels can't be sustained.

actually it's unfettered socialism, corporate socialism that is, privatize the profits publicize the losses.

The lady who's done the most to expose the vote machine scandal is right here in Renton, she wrote "Black Box Voting", Bev Harris. It's not theory it's well researched fact. Chuck Hagel started it all in Nebraska with ES&S. Voted in to the senate by huge upset on the machines his company installed and ran. The congress has turned over the vote count to private companies, against the constitution. The software is closed source, on the excuse it's "proprietary". The companies are all repug owned. They stole Florida in 2000 by about 150,000 votes as evidenced by the Palast investigation and the pre and exit polls. Bush became more unpopular in the first 4 years so they had to steal Florida and Ohio in 2004. Funny how the secretary of state in both these states was also on the election boards of the repugs. The sect of state oversees the voting machines. The Ohio sect of state is now in prison. Ever since exit polls have been conducted they've been the most accurate of all polls, for at least 50 years. Now all the sudden since these closed source code computers have been installed the exit polls are suddenly "inaccurate". I still don't understand how someone as seemingly intelligent such as yourself can fall for the television propaganda that the rupugs are somehow halfway decent.

WAY TO GO!!!! :tup::tup:

Yes, without regulation the cretins of industry go for the short term profit. You can make more money on already tooled SUV's than you can on developing small hybrids for the future. And without the government of the people they just take the money and run. When that short term ends they can re-arrange the chairs and petition for $billions from the greed pig politico's that they bought at one percent of that. And they'll hand over dollars borrowed from China in the taxpayers name. Of which you'll only be allowed to pay the interest.